|
Met-Pro Corporation Purchases Approximately 540,000 Shares of MPR Common Stock
Friday, October 10, 2008
HARLEYSVILLE, Pa., Oct. 10 /PRNewswire-FirstCall/ -- Raymond J. De Hont,
Chairman and Chief Executive Officer of Met-Pro Corporation (NYSE: MPR),
announced today that the Company has repurchased approximately 540,000 shares
of its common stock in a private transaction.
"We believe that Met-Pro's shares are significantly undervalued," stated
De Hont. "This was an excellent opportunity to take advantage of our strong
cash position and invest in our Company. We are uniquely positioned in the
markets we serve and firmly believe in the Company's future prospects as this
transaction clearly demonstrates."
About Met-Pro
Met-Pro Corporation, with headquarters at 160 Cassell Road, Harleysville,
Pennsylvania, was recognized, for the second consecutive year, as one of
America's "200 Best Small Companies" by Forbes magazine. The Company was also
named as one of the world's "Top Small to Midsize Manufacturers" by Start-It
magazine for the second year in a row. Through its business units, in the
United States, Canada, Europe and The People's Republic of China, a wide range
of products and services are offered for industrial, commercial, municipal and
residential markets worldwide. These include product recovery and pollution
control technologies for purification of air and liquids; fluid handling
technologies for corrosive, abrasive and high temperature liquids; Mefiag
filtration technologies for harsh, corrosive liquid filtration applications;
and filtration and purification technologies which include proprietary water
treatment chemicals and filter products for air and liquid filtration. For
more information, please visit www.met-pro.com .
The Private Securities Litigation Reform Act of 1995 provides a "safe
harbor" for forward-looking statements. Certain information included in this
news release, and other materials filed or to be filed with the Securities and
Exchange Commission (as well as information included in oral or other written
statements made or to be made by the Company), contain statements that are
forward-looking. Such statements may relate to plans for future expansion,
business development activities, capital spending, financing, the effects of
regulation and competition, or anticipated sales or earnings results. Such
information involves risks and uncertainties that could significantly affect
results in the future and, accordingly, such results may differ from those
expressed in any forward-looking statements made by or on behalf of the
Company. These risks and uncertainties include, but are not limited to, those
relating to, the cancellation or delay of purchase orders and shipments,
product development activities, computer systems implementation, dependence on
existing management, the continuation of effective cost and quality control
measures, retention of customers, global economic and market conditions, and
changes in federal or state laws.
Met-Pro common shares are traded on the New York Stock Exchange, symbol
MPR.
To obtain an Annual Report or additional information on the Company,
please call 215-723-6751 and ask for the Investor Relations Department, or
visit the Company's website at www.met-pro.com .
Contact: Investor Contact:
Gary J. Morgan,
Senior Vice President of Finance, CFO
215-723-6751, gmorgan@met-pro.com
Joseph Hassett, VP
Gregory FCA Communications
610-228-2110
SOURCE Met-Pro Corporation
|
|
|
|
 |
Science + Fiction Announces Partnership | Nov 21, 2008
|
|
Vital Images and Toshiba Renew Distribution Agreement | Nov 21, 2008
|
|
'Twilight' Selling 5 Tickets Per Second on Fandango | Nov 21, 2008
|
|
Businesses Believe in Green Building Benefits, According to Report from McGraw-Hill Construction | Nov 21, 2008
|
|
Microsoft Announces the Winner of the Prestigious 2008 BizTalk Server National Award, 'Driving Customer Adaption' | Nov 21, 2008
|
|
SED International Holdings, Inc. Names Elite Financial Communications Group as IR/PR Counsel of Record | Nov 21, 2008
|
|
Economic Slowdown Hits GPON Market, Report Finds | Nov 21, 2008
|
|
DemandTec Awards Scholarships to Winners of Third Annual Retail Challenge | Nov 21, 2008
|
|
McCann Healthcare Worldwide Agencies Again Win Most Awards at RX Club Show 2008 | Nov 21, 2008
|
|
Legent Clearing Teams With Fetter Logic to Offer Enhanced Compliance and Reporting Services | Nov 21, 2008
|
|
|
